Pharming Group (NASDAQ:PHAR) Price Target Cut to $30.00 by Analysts at Oppenheimer

Pharming Group (NASDAQ:PHAR) had its price objective dropped by Oppenheimer from $31.00 to $30.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s target price suggests a potential upside of 244.83% from the stock’s current price.

Separately, HC Wainwright reissued a “buy” rating and set a $37.00 target price on shares of Pharming Group in a research note on Thursday.

Pharming Group Price Performance

Shares of NASDAQ:PHAR opened at $8.70 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.65 and a current ratio of 3.39. Pharming Group has a 52 week low of $6.65 and a 52 week high of $13.20. The firm has a market cap of $585.89 million, a PE ratio of -54.38 and a beta of 0.15. The firm’s fifty day moving average is $8.05 and its 200-day moving average is $8.53.

Pharming Group (NASDAQ:PHAR) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.01) EPS for the quarter. Pharming Group had a negative net margin of 4.65% and a negative return on equity of 5.69%. The company had revenue of $74.09 million during the quarter, compared to the consensus estimate of $71.95 million. During the same quarter last year, the firm posted $0.02 EPS. Sell-side analysts predict that Pharming Group will post -0.15 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Pharming Group stock. Silverberg Bernstein Capital Management LLC increased its position in Pharming Group (NASDAQ:PHAR) by 75.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,110 shares of the company’s stock after purchasing an additional 17,675 shares during the period. Silverberg Bernstein Capital Management LLC owned approximately 0.06% of Pharming Group worth $339,000 at the end of the most recent quarter. 0.03% of the stock is owned by institutional investors.

Pharming Group Company Profile

Pharming Group N.V., a biopharmaceutical company, develops and commercializes protein replacement therapies and precision medicines for the treatment of rare diseases in the United States, Europe, and internationally. The company offers RUCONEST, a recombinant C1 esterase inhibitor for the treatment of acute attacks in adult and adolescent patients with acute hereditary angioedema (HAE); and Joenja (leniolisib), an oral small molecule PI3K? inhibitor for the treatment of activated phosphoinositide 3-kinase delta syndrome.